Salem Foundation
- Assets
- $36.3m
- Revenue
- $36.7m
- Investments
- $35.7m
- Employees
- 0
- Location
- Providence, RI
- Founding
- 11/2000
- Data as of
- 12/2021
- EIN
- 13-7196668
Organization Overview
Salem Foundation is located in Providence, RI. The organization was established in 2000. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Salem Foundation generated $36.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 52.7% each year . All expenses for the organization totaled $5.6m during the year ending 12/2021. While expenses have increased by 28.1% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Salem Foundation has awarded 102 individual grants totaling $40,376,904. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $19,200,458 |
| Interest on Savings | $3,031 |
| Dividends & Interest | $1,073,270 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,414,322 |
| Capital Gain Net Income | $16,414,322 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $24 |
| Total Revenue | $36,691,105 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $246,254 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,173 |
| Total operating and administrative expenses | $344,363 |
| Contributions, gifts, grants paid | $5,229,308 |
| Total expenses and disbursements | $5,573,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $568,335 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,656,979 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $36,287,179 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Salem Foundation has awarded $26,229,308 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
EDESIA INC PURPOSE: TO TREAT AND PREVENT MALNUTRITION FOR THE MOST VULNERABLE CHILDREN IN THE DEVELOPING WORLD | $20,000,000 |
EDESIA INC PURPOSE: TO TREAT AND PREVENT MALNUTRITION FOR THE MOST VULNERABLE CHILDREN IN THE DEVELOPING WORLD | $2,000,000 |
YEAR UP PURPOSE: TO FURTHER YOUNG ADULTS TECHNICAL & PROFESSIONAL SKILLS | $1,600,000 |
Woods Hole, MA PURPOSE: THE WOODS HOLE OCEANOGRAPHIC INSTITUTION IS DEDICATED TO RESEARCH AND EDUCATION TO ADVANCE UNDERSTANDING OF THE OCEAN AND ITS INTERACTION WITH THE EARTH SYSTEM, AND TO COMMUNICATING THIS UNDERSTANDING FOR THE BENEFIT OF SOCIETY. | $1,000,000 |
Providence, RI PURPOSE: PROVIDES COURSES OF INSTRUCTION FROM NURSERY SCHOOL THROUGH UPPER SCHOOL | $558,048 |
Woods Hole, MA PURPOSE: THE WOODS HOLE OCEANOGRAPHIC INSTITUTION IS DEDICATED TO RESEARCH AND EDUCATION TO ADVANCE UNDERSTANDING OF THE OCEAN AND ITS INTERACTION WITH THE EARTH SYSTEM, AND TO COMMUNICATING THIS UNDERSTANDING FOR THE BENEFIT OF SOCIETY. | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massmutual Foundation Inc Springfield, MA | $16,295,000 | $8,380,000 |
Lone Pine Foundation Inc Greenwich, CT | $70,601,962 | $14,308,044 |
Fiduciary Charitable Foundation Boston, MA | $117,480,981 | $103,573,534 |
Salem Foundation Providence, RI | $36,287,179 | $36,691,105 |
Arbella Insurance Foundation Inc Boston, MA | $24,058,916 | $7,386,813 |
Gordon Family Foundation Boston, MA | $69,748,192 | $26,669,267 |
Rx Foundation Hadley, MA | $50,754,617 | $6,084,053 |
New England Patriots Charitable Foundation Inc Foxboro, MA | $3,485,294 | $4,177,476 |
Analog Devices Foundation Boston, MA | $30,375,749 | $1,239,762 |
Hastings Family Foundation Inc Boston, MA | $805,455 | $1,002,105 |
Avangrid Foundation Inc Orange, CT | $4,008,456 | $2,609,665 |
The@pitney Bowes Employee Involvement Fund Inc Stamford, CT | $705,026 | $2,000,866 |